AuDAX Contracts PGS for 3D Seismic Offshore Tunisia

AuDAX Resources has signed a contract with PGS (Petroleum Geoservices) to acquire 670 km2 of 3D seismic data utilising PGS' leading edge proprietary Geostreamer Technology in the Kerkouane permit offshore Tunisia.

Previous exploration work within the Pantelleria and Kerkouane Permits has identified a number of prospects and leads, the most prospective being the drill-ready Sambuca prospect extending east into the adjacent Pantelleria Permit across the Italian-Tunisian maritime border. This structure appears to be one of the largest undrilled structures in the Mediterranean Sea.

Start date for the seismic acquisition is expected to the March 15, 2010.